Papa John's 1-Q income drops 18%

Wed, 2007-05-09 05:30

LOUISVILLE Ky. Papa John’s International Inc. reported an 18-percent drop in first-quarter net income, versus the first quarter of a year ago, as additional costs mostly from increased minimum wages in certain areas of the United States ate into the company’s bottom line. For the quarter ended April 1, net income totaled $13.2 million, or 43 cents per share, down from year-ago profit of $16 million, or 47 cents per share. Corporate revenues for the latest quarter rose 7.5 percent to ...

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